TCL Zhonghuan Renewable Energy Technology Co.,Ltd. (002129.SZ) has issued a performance forecast for the first half of 2026, projecting a net profit attributable to shareholders of the listed company in the range of -3.3 billion to -3.0 billion yuan. This compares to a net loss of -4.242 billion yuan for the same period last year.
During the reporting period, the photovoltaic industry continues to face supply-demand imbalances, with prices of core products adjusting at low levels, putting sustained pressure on profitability across the sector. Confronted with this challenging operating environment, the company is resolutely implementing its moderate "integration" and globalization strategy, adhering to production based on demand and lean operations. It forecasts a net profit attributable to shareholders between -3.3 billion and -3.0 billion yuan, representing a year-on-year improvement of 22.2% to 29.3%.
For the first quarter, the company reported a net profit attributable to shareholders of -1.65 billion yuan, marking a 13.6% improvement year-on-year and a 52.8% improvement quarter-on-quarter. For the second quarter, it expects this figure to be between -1.65 billion and -1.35 billion yuan.
The company's new energy photovoltaic business is showing signs of recovery. Through ongoing efforts to reduce costs and improve efficiency, the non-silicon costs of its wafer business have decreased by over 13% year-on-year, with EBITDA showing improvement compared to the same period last year.
Its moderate "integration" and globalization strategy has achieved tangible progress. Revenue from its cell and module business grew by nearly 40% year-on-year, with second-quarter revenue accounting for over 50% of the company's total photovoltaic business revenue. Shipments of high-efficiency products, such as BC and half-cell modules, exceeded 15% of the total.
Overseas module shipments reached approximately 2GW, a fourfold increase from the same period last year. Both scale growth and product mix optimization have jointly contributed to reducing losses in the module business.
The company's semiconductor material business remains stable, with expected revenue exceeding 3.0 billion yuan. Product shipment volume increased by 17% year-on-year, and the deployment of 12-inch products continues to advance steadily.
The company stated it will continue to focus on the development of its new energy photovoltaic and semiconductor materials businesses. It is committed to restoring operational quality and striving to improve its annual performance by enhancing technological innovation capabilities, accelerating the upgrade of BC production capacity and product mix optimization, breaking through with key strategic clients and high-premium global markets, and persistently reducing costs and controlling expenses.
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